Px is news & analysis — not investment advice, not a recommendation, not a solicitation. It explains what moved in private credit and why it matters, in plain English, and links every claim to its original source. You decide what to do with it.
Px reads the public primary record directly: SEC / EDGAR filings (BDC 10-Qs, 10-Ks, N-PORT, 8-Ks, Form D), SEC rule dockets, and central-bank data (the Federal Reserve's FRED, the ECB Data Portal, the Bank of England). These are public facts; Px computes from the document itself and links you to it.
For reporting that sits behind a paywall, Px shows only the headline and an attributed link — it never reproduces paywalled text. This is enforced in code, not just policy.
Px is a deterministic engine. Every figure — dividend-coverage ratios, NAV breadth, asset coverage, non-accrual percentages, spread levels — is computed in code from the public filings linked beside it. The same filings always produce the same briefing; no language model writes or estimates the numbers. You can see each signal's exact formula on the methodology page.
The editorial layer — the plain-English explanation, the private-credit and legal lens, and the rules below — is set by a human editor. If a source can't be fetched, or a disclosure is present but can't be parsed with confidence, Px shows Unknown and points you to the original rather than inventing detail.
Spotted an error? corrections@asakasa.org — corrections are made promptly and noted.